Collection scoring quantifies the probability of recovery of the outstanding balance for those accounts in collections. Collection scorecard statistically estimates debtor’s willingness to pay and ability to pay and thus helps to define what actions should be done to increase collections.
Collection scoring facilitates debt management decisions. Used in debt collection systems, collection scoring helps you improve your collection and recovery efficiency, reduce write-offs and decrease staff costs.
With Scorto collection scoring solutions lenders are empowered to:
- decrease write-offs;
- increase collections and recoveries;
- make more efficient debt management decisions;
- prioritize, segment and distribute debtors inside your collection team;
- identify self-cured/self-remedy accounts and thus decrease your collection expenses;
- employ predictive strength of your history of collections cases and their subsequent recovery information;
- create more effective debt collection strategies.